10/14/2021- 2:50 p.m.
Two UK electricity suppliers go under as oil & gas battle piles on pressure for supply chain
BP and Shell are feeling the brunt of the world energy crisis, as the former pulled out of an agreement with UK energy supplier Pure Planet, which has now gone out of business.
Royal Dutch Shell Plc.’s loss-making retail power business – which posted a2020 pre-tax loss of ₤138mn – was appointed by a UK regulator to take on 250k new customers, but filling the already stretched demand is set to put them under intense pressure.
UK Business Secretary Kwasi Kwarteng warned last week that more companies would likely fail and the government will not bail them out.
